Hong Kong Legislative Council Passes Inland Revenue (Amendment) (Tax Concessions, Concessionary Deductions and Allowances) Bill 2026

The Hong Kong Inland Revenue Department has announced the passage of the Inland Revenue (Amendment) (Tax Concessions, Concessionary Deductions and Allowances) Bill 2026 by the Legislative Council on 13 May 2026. As previously reported, the Bill provides for the implementation of certain measures of the 2026-2027 Budget, including:

• A 100% reduction in salaries tax, tax under personal assessment, and profits tax for the 2025/26 year of assessment, subject to a ceiling of HKD 3,000 per case;
• A…